Value of traded contracts in real estate sector touches RO252mn

July 02, 2017

Dr Ali bin Azzan al Hashami

The value of traded contracts in May this year stood at RO252mn while the collected fee amounted to RO7.831mn, said Dr Ali bin Azzan al Hashami, deputy secretary in the Real Estate Registry at the Ministry of Housing.

He added that real estate activity saw 33,279 transactions including sale, grant, inheritance, exchange, mortgage and mortgage redemption, usufruct and division transactions.

Dr Hashami said that the total value of sale contracts stood at RO118,181,000 through 5,920 transactions while the fee collected crossed RO4mn.

He said that North Batinah recorded the maximum number of sale contracts at 1,267, followed by Muscat at 1,078, South Batinah at 1,045, Dakhliyah at 710, South Sharqiyah at 438, North Sharqiyah at 424, Dhahirah at 316, Dhofar at 314, Al Wusta at 154, Buraimi at 138 and Musandam at 36.

Dr Hashami added that 21,217 title deeds were issued including those to GCC citizens. The total value of 1,933 mortgage contracts stood at RO133,161,000. Dr Hashami said the fee collected from mortgage contracts crossed RO638,000.